Stakeholders across various sectors have thrown their weight behind the proposed amendment to the Raw Materials Research and Development Council (RMRDC) Act 2022, aimed at enhancing the local processing of raw materials before exportation.
The Bill, sponsored by Senator Peter Onyekachi Nwebonyi and conceptualized by the RMRDC, received overwhelming support on Wednesday during a public hearing organized by the Senate Committee on Science and Technology in Abuja.
The amendment seeks to promote value addition to Nigeria’s raw materials, curb the exportation of unprocessed resources, and create job opportunities by encouraging local industrialization.
In their separate presentations, stakeholders including the Ministry of Solid Minerals, Standards Organization of Nigeria (SON), and the Manufacturers Association of Nigeria (MAN) described the bill as a critical step towards transforming Nigeria from a raw materials-exporting country into a manufacturing powerhouse.
Speaking at the hearing, the Director-General of the RMRDC, Professor Nnanyelugo Ike-Muonso, applauded the broad support for the bill, noting that its passage would halt the trend of exporting jobs and wealth to foreign countries.
“Today is my happiest day with the 100% support the amendment bill received from various stakeholders. This bill will reposition Nigeria’s economy by ensuring raw materials are processed locally before exportation, creating wealth and employment for our people,” he said.
Chairman of the Senate Committee on Science and Technology, Senator Iya Abbas, commended the stakeholders for their unanimous backing and assured that the committee would expedite the submission of its report to the Senate for final consideration and passage.
If passed into law, the amendment is expected to bolster Nigeria’s industrialization agenda, generate employment opportunities, and strengthen the nation’s economy through local content development.
